Curtain Raiser ‘Mini–Conclave’ held for J&K Global Investors Summit in Ladakh

LEH, SEPTEMBER 05: In order to promote industrialization and attract investments in the state, Government of J&K is organizing its maiden Global Investors’ Summit, 2019 “Invest Jammu & Kashmir”. The summit kick started from Leh with the conduct of Ladakh Mini Conclave chaired by CEC, LAHDC, Gyal P Wangyal as the chief guest on the occasion.

Principal Secretary, Industries & Commerce Navin Kumar Choudhary, Divisional Commissioner Ladakh Saugat Biswas, MD SIDCO Ravinder Kumar, DC/CEO LAHDC Leh Sachin Kumar, DC/CEO, LAHDC Kargil Baseer Ul Haq Choudhary, DDC Leh Moses Kunzang, Director Industries & Commerce and Mehmood Shah, Zonal Chairman, CII Ladakh Zonal Council Nawang Thinles and state officials of CII were present on the occasion.

Addressing the gathering, CEC Gyal Wangyal stressed on the need to find the right mix of policies that optimizes trade’s contribution to the social and economic development of J&K and Ladakh. He said that such conclave will provide opportunity to showcase the strengths and potential of the region, besides giving first hand information about business friendly policies of the government, assess infrastructure, natural resources, raw material, availability of skilled and unskilled manpower, to identify new business avenues in state and to develop networking between local and outside business communities. He highlighted the potential of white kernel apricot, Pashmina etc as the most promising business ventures in Leh. 

Speaking on the occasion, Navin Choudhary said that till date three things mainly violence, not knowing the place and wrong perception about land has kept the state of J&K deprived of industrial and economic development. He asserted that political development must facilitate economic development and improved industrial and service sector will help people of Jammu, Kashmir and Ladakh realize their dream. He stressed on the possibilities to explore potential of tourism and service sectors in Leh and said that power could be the biggest revenue generation sector for Ladakh.

On the demand of CEC, he gave full assurance to provide the funds to around 70 young entrepreneurs in Leh under JKEDI that was pending in next 10 days. He also assured to consider reducing the premium charged by SITCO in Ladakh. He stressed on the need to draft a master plan of Leh and Kargil and to have their own policies in tourism, industrial and service sectors considering the local requirement and geographic and environmental feasibility. He instructed both the DC’s of Leh and Kargil to conduct a full day seminar in next 10 days of young entrepreneurs and other stakeholders to debate on the kind of investors required from outside in the districts and submit the detail list of suggestions and requirements to him at the earliest possible.

DC, Leh Sachin Kumar, said that cultural attitude, lack of infrastructure, skill gaps and remoteness from the market is the current obstacle for business creation in Ladakh. Keeping in mind with the numbers of opportunities he agreed with the 8 points agenda for growth being published by CII and expressed hopes to reduce the obstacles so that industry can thrive in this remote region of Ladakh.  He thanked J&K Industry Department and CII for organizing this Investor Summit Mini Conclave in Leh, Ladakh.

DC Kargil Baseer Ul Haq Choudhary, Director Industries & Commerce Mehmood Shah and Zonal Chairman, CII Ladakh Zonal Council Nawang Thinles also spoke on the occasion followed by a question and answer session. The participants including young local entrepreneurs, members of ALTOA, Trade Association, representatives from NGOs and senior business men attended the Mini Conclave

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